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Old 10-09-2014, 01:43 PM
Villages PL Villages PL is offline
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Default Best place to accumulate a bigger cash position.
Lately, I just don't feel like reinvesting all of my dividends. I feel as though I'd rather have a bigger cash position, at least for the time being.

A few weeks ago, I saw an ad in the Parade Magazine by Synchrony Bank for an account called Optimizer+ plus. They have a high yield savings account that pays .95 % APY. I was told this bank is 80% owned by GE.
This would not be online banking; I don't want online banking. I would mail them a check and if I ever need cash I would be able to call them and have them mail me a check. But it would not be my purpose to use it for everyday cash needs because I already have that well covered.

I haven't done a lot of research on this and wonder what your opinion would be. Right now my cash is parked with a local checking account and 2 money market brokerage accounts and getting a very small fraction of 1%.